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SPCK

GradeDNASDAQ Global Market

SPAC and New Issue ETF

Themes · Tuttle Capital · Inception 2020-12-15 · SEC filings

$21.92−0.10 (−0.47%)

As of Sep 23, 2026, 2:23 PM EDT

Intraday session: down, 17 prints from 22.02 to 21.92. Range 21.61 to 22.21. Use the arrow keys to read each point.$21.60$21.80$22.00$22.2010 AM12 PM2 PM4 PM
Expense ratio
2.31%
Fund size
$8M
1Y return
+3.2%
Yield · Last 12 months
16.31%
Holdings
52
Volume · 30D
0M sh
NAV per share
$21.97
52W range
low $21.32high $25.95

The ETF.net SPCK Grade

D

34/ 100

Rank 7 of 8 in IPO & Spin-Off⁠

Confidence Medium

Six-pillar profile for SPCK. Scores out of 100: Cost 7, Risk 59, Mission not scored, Tradability 42, Holdings 65, Durability 36. Strongest: Holdings (65). Weakest: Cost (7). Based on 5 of 6 pillars.
F< 25
D≥ 25
C≥ 40
B≥ 55
A≥ 70

Score 34 of 100 sits in the D band. Bands: A ≥ 70, B ≥ 55, C ≥ 40, D ≥ 25, F < 25; the scale skips E.

  • Cost

    What you pay to own it — the expense ratio plus trading frictions, ranked within its category.
    FScore 7
    Category rank8/8 · bottom quartile

  • Mission

    How faithfully it does the job it claims — tracking its mandate or index with minimal slippage.
    Not scored
    —

  • Risk

    How violently it can move — volatility, drawdown depth, and downside capture versus its category.
    BScore 59
    Category rank4/8 · top 50%

  • Tradability

    How cheaply and easily you can get in and out — liquidity, spread, and premium/discount stability.
    CScore 42
    Category rank5/8 · mid-pack

  • Holdings

    What it actually owns — the quality, breadth, and concentration of the underlying portfolio.
    BScore 65
    Category rank3/7 · top 43%

  • Durability

    Whether it will still be here — the fund’s assets, age, flows, and issuer staying power.
    DScore 36
    Category rank6/8 · bottom quartile

Graded as of Sep 22, 2026 · Based on 5 of 6 pillars

Our read on SPCK

ETF.net Research

DAn actively managed run at SPACs and freshly public companies, carried at a zero expense ratio while the rest of the IPO-and-spin-off aisle charges north of half a percent. Small and thinly traded, so your trade execution matters more than the fee line.

Stated mandate

The Fund seeks total return. It is actively managed and invests at least 80% of assets in qualifying SPACs and companies that completed an IPO within the prior two years; it may also use swaps and hold cash or short-term debt for liquidity.

Why people hold it

  1. 01Zero expense ratio. The other funds hunting IPOs and spin-offs (FPX, CSD, IPO, FPXI) charge roughly 0.57% to 0.70%.
  2. 02Active, not index-bound: at least 80% of assets go to qualifying SPACs and companies that went public within the prior two years, with a manager picking which deals make the cut.
  3. 03Two exposures in one wrapper, pre-deal SPACs and recent IPOs, spread across roughly 130 positions instead of a handful of bets.
  4. 04One of the older dedicated SPAC vehicles on the market, trading since December 2020, so it has a live record through the boom and the hangover that followed.

Worth knowing

  1. 01Small and thinly traded. At this asset level the spread you pay getting in and out can swamp the fee you save.
  2. 02The ticker changed from SPCX to SPCK in April 2026, so older charts, screeners and articles may still be filed under the previous symbol.sec.govsec.gov
  3. 03Narrow mandate tied to the deal pipeline. The fund may also use swaps and park money in cash or short-term debt for liquidity, and it distributes at most a couple of times a year.

SPCK Holdings

As of Sep 20, 2026, 6:41 AM
Asset class
Stocks
Holdings
52
Top-10 weight
37%
Largest holding
CCII4.7%

Sectors

  • Financials92.0%
  • Technology8.0%

Geography

  • United States85.32%
  • Cayman Islands5.26%
  • France3.86%
  • Mexico3.03%
  • Taiwan2.53%
The fund’s holdings, weight-ordered — page 1 of 4.
#TickerCompanyWeight %SharesMarket valueIn ETFs
001CCIICohen Circle Acquisition Corp4.67%37,692$389K1
002FGIIFG Imperii Acquisition Corp4.22%35,000$351K1
003CEPSCANTOR EQUITY PARTNERS VI4.01%32,308$334K1
004TACOBERTO ACQUISITION CORP3.84%30,577$320K1
005PSQLPASQAL HOLDING SA3.59%37,692$298K4
006TWLVTwelve Seas Investment Co III3.45%28,462$287K1
007PTORUPRAETORIAN ACQUISITION CO3.28%26,923$273K1
008CAIIUCollective Acquisition Corp II3.26%26,923$271K1
009RREVURRE Ventures Acquisition Corp3.25%26,923$270K1
010ARTCUART TECHNOLOGY ACQUISITIO3.24%26,923$270K1
011BIDWUTribeca Strategic Acquisition3.24%26,923$269K1
012—FUTURECORP SPACE ACQUISIT3.06%25,000$255K1
013—West Enclave Merger Corp2.96%24,231$246K1
014CEPOCANTOR EQUITY PARTNERS I2.80%21,608$233K1
015MBAVM3-BRIGADE ACQUISITION V2.79%21,538$232K1

Showing 1–15 of 47 holdings

SPCK Performance

Shows how $10,000 changes over the selected period, with cash distributions reinvested at the closing price on each ex-dividend date.

SPCK$10,320
SPY tracks large US stocks. It provides market context, rather than representing this fund’s strategy, asset class or investment benchmark.$11,723
Sep 22, 2025 to Sep 22, 2026. SPCK $10,320. SPY $11,723. Use the arrow keys to read each point.$9,353$10,646$11,940Sep 2025Mar 2026Sep 2026

Sep 22, 2025 – Sep 22, 2026

Returns run to the Sep 22, 2026 close, with cash distributions reinvested. Each period starts on the same date that many months or years earlier. Periods over one year show the average yearly return.

Trailing total return for SPCK. Periods over one year show the average yearly return.
PeriodSPCK
Year to date+1.1%
1 month−0.7%
3 months−0.9%
1 year+3.2%
3 years+3.9%per year
5 years−1.5%per year
10 yearsFund is under 10 years old—per year

As of the close, with distributions reinvested.

Calendar-year total return with cash distributions hypothetically reinvested at the ex-dividend date’s closing price. The current year shows year to date.

Annual total returns for SPCK
YearReturn barSPCK
2026 YTD+1.1%
2025+7.8%
2024+2.8%
2023−4.1%
2022−12.2%
2021+9.3%
2020+3.0%

History from Dec 16, 2020

SPCK in the news

ETF.net Research hasn’t filed on SPCK yet — coverage lands here as it’s written.

SPCK Dividends

Adds up every distribution paid per share over the last 12 months, divided by the last completed close. Distributions are counted by ex-date. Data through Sep 22, 2026.
16.31%Last 12 months
Payout per share
$3.59Last 12 months
Last payment
$0.49 per share
Paid on
Shares bought on or after this date do not qualify for this distribution.
Frequency
Irregular

Distribution history

2021–2026

One bar per payment. 6 payments from 2021 to 2026 YTD. Dec 27, 2021 $0.36; Dec 19, 2023 $0.52; Dec 17, 2024 $0.14; Dec 27, 2024 $0.02; Dec 16, 2025 $3.11; Dec 24, 2025 $0.49. Use the arrow keys to read each point.202120222023202420252026YTD
Ex-datePay dateAmount per share
Dec 24, 2025Dec 26, 2025$0.49
Dec 16, 2025Dec 17, 2025$3.11
Dec 27, 2024Dec 30, 2024$0.02
Dec 17, 2024Dec 18, 2024$0.14
Dec 19, 2023Dec 21, 2023$0.52
Dec 27, 2021Dec 29, 2021$0.36

SPCK Risk

How much the fund’s monthly returns vary, scaled to a year.
4.9%
Annualised · 36 months to Aug 2026
How it’s calculated: standard deviation

The sample standard deviation of monthly total returns, multiplied by the square root of 12.

Uses up to 36 complete months, with at least 12 required. Total returns include reinvested distributions.

Return above 3-month US Treasury bills per unit of volatility.
0.08
vs 3-month T-bills · to Aug 2026
How it’s calculated: Sharpe ratio

Subtract each month’s Treasury-bill return from the fund’s monthly total return.

Divide the average of those excess returns by their sample standard deviation, then multiply by the square root of 12.

Uses up to 36 complete months, with at least 12 required. Each month uses the Treasury yield quoted at the end of the previous month.

The largest fall from a peak to the low that followed.
−19.9%
Trough Feb 2023
How it’s calculated: maximum drawdown

The largest percentage decline from an earlier peak, using total returns with reinvested distributions.

Uses up to five years through the last close, with at least 12 months required.

How strongly the fund’s returns move with its asset-class index.
0.10
vs its asset-class index
How it’s calculated: beta

The beta figure is supplied by FMP. The comparison index depends on the fund’s broad asset class.

SPCK Cost

Expense ratio2.31%
  • The middle half of IPO & Spin-Off funds
  • Median 0.70%

Every other IPO & Spin-Off fund charges less.

SPCK costs $231.00 a year on $10,000. The median IPO & Spin-Off fund costs $70.00.